Solve the Problem. -The Smith's Addition to Their House Is Going to Cost

question 91

Multiple Choice

Solve the problem.
-The Smith's addition to their house is going to cost $23,150. On March 2 they sign a note at 9.5% interest due in 200 days. They make a partial payment on April 30 of $8000. What is the amount due on the maturity date? What is the amount of interest charged?

• A)$15,713.71, $924.14
• B)$16,087.55, $937.55
• C)$16,520.23, $1370.10
• D)$16,032.63, $882.63

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